BusinessWorld
March 10, 2021 | 12:03 am
AYALA-LED AC Energy Corp. (ACEN) booked a net income of P3.87 billion last year, around 29 times higher than what it earned a year earlier on the back of higher electricity sales.
In a filing to the local bourse on Tuesday, ACEN said revenues from electricity sales rose 26.01% to P20.28 billion in 2020. It noted that the cost of selling electricity decreased 12.3% to P13.42 billion during the year.
The firm also recorded a net income attributable to parent firm equity holders of P3.75 billion last year, 65 times higher than the P57.65 million posted in 2019.
Total assets improved by 30.98% to P63.58 billion, while total liabilities rose by 31.31% to P42.22 billion.
AC Energy to divest from Mindanao coal plant
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BusinessWorld
February 25, 2021 | 12:06 am
ABOITIZ Power Corp. said on Wednesday that a unit of its 632-megawatt (MW) pulverized coal-fired power plant in Mariveles, Bataan went on an unexpected shutdown due to a damaged boiler.
“The outage is attributable to damage found in a portion of the boiler of GMEC’s (GNPower Mariveles Energy Center Ltd. Co.) Unit 1,” AboitizPower said in a disclosure to the local bourse.
Restoration works are targeted to be completed by the third quarter, it said.
GMEC is a private limited partnership that handles the development, construction, operation, and ownership of two units of a pulverized coal-fired power plant in Mariveles. Each unit has a capacity of 316 MW.
Angelica Y. Yang
THE target commercial operations of the 1,336-megawatt (MW) supercritical coal-fired power plant of GNPower Dinginin Ltd. Co. have been pushed back due to construction delays caused by travel restrictions, the top official of Aboitiz Power Corp. said.
âThe earliest plausible commercial operations dates for Units 1 and 2 are expected to be on June 26, 2021 and November 26, 2021, respectively, only if plans happen right on schedule, with no allowance for construction delays,â AboitizPower President and Chief Executive Officer Emmanuel V. Rubio told
BusinessWorld in an e-mailed response on Monday.
GNPower Dinginin in Mariveles, Bataan is a joint venture of AC Energy, Inc., Aboitiz Power Corp. subsidiary Therma Power, Inc. and Power Partners Ltd. Co. The plantâs two units have an identical capacity of 668 MW each.
February 12, 2021 | 12:04 am Font Size
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THE 1,336-megawatt (MW) supercritical coal-fired power plant of GNPower Dinginin Ltd. Co. is scheduled to begin its full commercial run by June this year, latest data from the Energy department show.
GNPower Dinginin in Mariveles, Bataan is a joint venture of AC Energy, Inc., Aboitiz Power Corp. subsidiary Therma Power, Inc. and Power Partners Ltd. Co. Its two units have an identical capacity of 668 MW each.
In its list of committed private sector-initiated projects in Luzon as of end-December, the Department of Energy (DoE) said that the first and second units of GNPower Dinginin were targeting to âstart commercial operations in March and June,â respectively. The list was published on the departmentâs website on Thursday.
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